What is homeowners insurance?
Homeowners insurance provides financial protection against disasters. A standard policy insures the home itself and the things you keep in it along with personal liability, medical payments, loss of use and any other endorsements you choose to add depending on the availability from the insurance company.
Damage caused by most disasters is covered, but there are exceptions. The most significant are damage caused by floods, earthquakes and poor maintenance. Contact a Martin & Zerfoss agent for flood and earthquake quotes.
Why do you need homeowners insurance?
It's about protecting yourself financially if something unexpected happens to your home or possessions. That's important because chances are your home is likely one of your largest investments.
- If your home is destroyed by fire or damaged by a natural disaster, you will need money for repairs or to replace the home.
- Homeowners insurance also covers your responsibility to other people injured at your home or elsewhere by you, a family member or your pet, and pays legal defense costs if you are taken to court..
- If you are a victim of theft and vandalism, it can reimburse you for your loss or pay for repairs.
- If you are still paying for your home, your lender will require insurance.
It's important to know that homeowners insurance is meant to cover unexpected damage, not routine maintenance. Ask your agent to talk about what's covered, and be sure to read your policy, so you know exactly what is and is not included.
Things to consider and questions to ask your agent:
- How much will it cost to rebuild your house and replace your belongings if they are damaged or destroyed? Ask your agent to talk you through your home's features and the things you own so you can make an informed decision about coverage.
- Does the insurance company have a good reputation for customer service? Is it known for paying claims fairly and promptly?
- What discounts are available? Ask about multiple policy, security system and fire resistance discounts.
- What's the process for filing and settling a claim? Ask your agent who you need to call and what happens after you file a claim.
This website provides a basic summary of the insurance products offered by Martin & Zerfoss. It is not a statement of contract and coverage may not apply in all areas. For a complete description of coverage, please read the insurance policy, including all endorsements.